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Business and Management Research Themes and Impact [Version 1; Peer Review: 1 Approved, 1 Not Approved]

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Business and Management Research Themes and Impact [Version 1; Peer Review: 1 Approved, 1 Not Approved] Emerald Open Research Emerald Open Research 2020, 2:67 Last updated: 10 SEP 2021 RESEARCH ARTICLE Business and management research themes and impact [version 1; peer review: 1 approved, 1 not approved] Evidence from REF 2014 Paul A. Phillips 1, Stephen Page2, Joshua Sebu 3 1Kent Business School,, University of Kent, UK, Canterbury, Kent, CT2 7AJ, United Kingdom 2Hertfordshire Business School, University of Hertfordshire, UK, Hatfield, United Kingdom 3School of Economics, University of Cape Coast, Ghana, University of Cape Coast,, Ghana, Ghana v1 First published: 24 Nov 2020, 2:67 Open Peer Review https://doi.org/10.35241/emeraldopenres.13987.1 Latest published: 24 Nov 2020, 2:67 https://doi.org/10.35241/emeraldopenres.13987.1 Reviewer Status Invited Reviewers Abstract This paper examines the theoretical issues and research themes of 1 2 business and management impact. Our empirical setting is the UK Research Excellence Framework 2014 (REF 2014) and the focus is on version 1 the nature of research impact. Stakeholders, including Governments, 24 Nov 2020 report report now expect academic outputs to translate to real world benefits beyond the narrow bibliometric type metrics. 1. Julie Davies , Manchester Metropolitan Despite decades of academic literature devoted to business and management research impact, current theories cannot explain the University, Manchester, United Kingdom apparent disconnect between academic, economic and societal practice. Adopting a UK Business and Management perspective to 2. Ludo Waltman , Leiden University, frame our investigation, we consider the highly contested rhetorical Leiden, Netherlands question – what are the current themes and impacts of Business and Management research? Any reports and responses or comments on the We propose a definition for research impact and consider its article can be found at the end of the article. measurement. Then, using the 410 Impact Case Studies submitted to REF 2014 - Unit of Assessment 19, business and management, we examine how high impact unfolds. The implications for business and management research impact from the perspectives of economic, knowledge and responsibility impacts are considered. Keywords Business and management research impact, REF 2014, REF 2021, Impact Set Theoretic Approach, Research performance This article is included in the Responsible Management gateway. Page 1 of 20 Emerald Open Research Emerald Open Research 2020, 2:67 Last updated: 10 SEP 2021 This article is included in the Quality Education for All gateway. Corresponding author: Paul A. Phillips ([email protected]) Author roles: Phillips PA: Conceptualization, Data Curation, Methodology, Project Administration, Supervision, Writing – Original Draft Preparation, Writing – Review & Editing; Page S: Conceptualization, Methodology, Supervision, Writing – Original Draft Preparation, Writing – Review & Editing; Sebu J: Data Curation, Investigation, Methodology, Software, Writing – Original Draft Preparation Competing interests: No competing interests were disclosed. Grant information: The authors wish to thank the Kent Business School, University of Kent and Hertfordshire Business School, University of Hertfordshire for funding towards the research reported in this study. The funders had no role in study design, data collection and analysis, decision to publish, or preparation of the manuscript. Copyright: © 2020 Phillips PA et al. This is an open access article distributed under the terms of the Creative Commons Attribution License, which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited. How to cite this article: Phillips PA, Page S and Sebu J. Business and management research themes and impact [version 1; peer review: 1 approved, 1 not approved] Emerald Open Research 2020, 2:67 https://doi.org/10.35241/emeraldopenres.13987.1 First published: 24 Nov 2020, 2:67 https://doi.org/10.35241/emeraldopenres.13987.1 Page 2 of 20 Emerald Open Research 2020, 2:67 Last updated: 10 SEP 2021 Background of how high impact unfolds. We adopt a pluralistic approach UK business schools (BSs) contribute £3.35bn to the UK econ- (Aguinis et al., 2019) and assess BS impact by examining omy and provide financial cross subsidies to other university Research Excellence Framework 2014 (REF 2014) impact schools (Bradshaw, 2017). Taking note of its business model, case studies (ICS). Following on from these discussions we BSs were initially praised as a success story of higher educa- formulate our research questions as follows: tion (Alajoutsijärvi et al., 2015). BSs remain influential and possess the ability to attract huge numbers of premium fee-paying 1) How should research impact be defined, and how is it students on their undergraduate, postgraduate and executive measured? MBA programs. 2) How does high quality business and management ICS research impact unfold within the academy? Yet a series of staff inspired polemical critiques of the nature of BS research have raised questions regarding whether such organ- 3) What should the role of BSs be in society, and what type izations have lost their way, due to criticisms by authors of a of impact should they have? perceived lack of rigor and relevance in their staff research (Irwin, 2019), along with an inward focus on high quality The paper now considers the definition and measurement of scientific research that has little application to the real world research impact, including theoretical aspects of the concept (Kapstein & Yip, 2011), a feature polemicized by Caplan’s of impact, REF 2014 and ICSs to contextualise the paper. The (2018) debate on the value of Universities. Van de ven (1989) methodology employed to examine the ICSs and key findings reminds us that the central mission of management scholarship is then presented. We then outline the implications, conclusions is contributing to management practice. Expectations exist that and consequences for policy development. outputs from the academy should translate into tangible real- world benefits including societal impacts, environmental and Definition and measurement of research impact economic impacts (Pettigrew & Starkey, 2016; Watermeyer, 2014). Definition of research impact. Existing definitions of research impact are wide ranging making the construction of a working However, the last decade has witnessed a Tayloristic shift definition of impact complex. Definitions have varied depend- with geopolitical forces reshaping business schools. Calls for ing on the focus of the researcher, which Penfield et al. (2014) global action initiatives such as The United Nations Sustain- divided into academic impact or external socio-economic impact. able Development Goals (SDGs) place increasing pressure for The UK Economic and Social Research Council1, has indi- BSs to demonstrate impact to their wider economic and soci- cated that academic research has impact if it is able to demon- etal audiences (Weybrecht, 2020). According to the Association strate some contribution to society and the economy, or more to Advance Collegiate Schools of Business (AACSB) more simply put it generates impact beyond academic stakehold- than 800 BSs are signatory to the Principles for Responsible ers. The ESRC has traditionally framed this, like many other Management Education (PRME) with increasing numbers research councils in the UK do, in terms of developing pathways looking beyond SDG 4 (providing a quality education). to impact where ‘high quality Pathways to Impact will include explicit awareness of principles and practices of knowledge Such observations illustrate the internal challenge that BSs’ face exchange – including the application of principles and practices with two principal audiences for their research: academics and of co-production – as opposed to dissemination’ (http://www.esrc. practitioners (Kapstein & Yip, 2011). The blame varies from ac.uk/research/impact-toolkit/developing-pathways-to-impact/). academics being caricaturized as being obsessed with theory However, in March 2020, UK research and innovation (includ- and long-time horizons (Rynes & Bartunek, 2017; Trank, 2014); ing the research councils) advocated dropping the pathways physics envy (Thomas & Wilson, 2011); the academy possess- to impact, with impact now included as a core element of the ing a myopic view on what constitutes managerial scientific entire grant application process, illustrating the enhanced impor- practice (Seal, 2012); academics seeing impact as a dilution of tance of impact as it is now embedded in the research funding rigor and threat to academic autonomy (Johnson & Orr, 2019). process. In the case of the ESRC, research outcomes that affect Counter-arguments view practitioners as academic phobic, society, culture, the environment and economy are deemed to short-term natured and susceptible to the latest management have had impact beyond academia. Academic impact, in con- fads advocated by management consultants (Phillips et al., trast, has often been measured in relation to citations of arti- 2019). The different contexts of academics and practitioners have cles. The entire area of academic impact is one which is highly been acknowledged, so the gap is hardly surprising. These challenging (e.g. Amara & Landry, 2012; Garfield, 1979; range from reward systems (e.g. Phillips et al., 2018); belief Pendlebury, 2009), with its qualitative and quantitative measures systems (e.g. Kieser & Leiner, 2009); communications flows of impact. (e.g. Hughes et al., 2017);
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